Ceradyne, which manufactures body armor in Lexington, raised its earnings projections for the year this week on the expectation of improving military orders.
The company now expects to earn a range of $2.35 to $2.70 a share on sales of $505 million to $560 million. That's up from a range of $1.50 to $1.90 a share on sales of $470 million to $540 million.
The company recently received a $56.6 million contract for body armor and has "several potential additional armor opportunities," chief executive Joel P. Moskowitz said in a statement.
Among other contributors, Ceradyne also has higher gross margins so far this year due to a better mix of products, the company said in a statement.